20
BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED
ANNUAL REPORT 2013
Consolidated Statement of Cash Flows
(Continued)
For the year ended March 31, 2013, with comparative figures for 2012
(Expressed in Barbados dollars)
Notes
2013
2012
Cash Flows from Financing Activities
Net decrease in loans payable
(5,624,383)
(5,087,199)
Issue of shares
418,440
387,720
Entrance fees received
17,435
16,155
Redemption of shares
(51,720)
(31,080)
Distributions to members
(1,543,019)
(1,414,608)
Net cash used in financing activities
(6,783,247)
(6,129,012)
Net increase in cash and cash equivalents
15,922,282
13,705,805
Cash and cash equivalents, beginning of year
49,215,175
35,509,370
Cash and cash equivalents, end of year
9
$ 65,137,457
49,215,175
The accompanying notes form an integral part of these consolidated financial statements.
